Thompson Investment Management buys $3,704,626 stake in Discover Financial Services (DFS)

Discover Financial Services (DFS) : Thompson Investment Management scooped up 470 additional shares in Discover Financial Services during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 65,557 shares of Discover Financial Services which is valued at $3,704,626.Discover Financial Services makes up approximately 0.76% of Thompson Investment Management’s portfolio.

Discover Financial Services opened for trading at $56.98 and hit $57.53 on the upside on Wednesday, eventually ending the session at $57.17, with a gain of 0.18% or 0.1 points. The heightened volatility saw the trading volume jump to 29,64,793 shares. Company has a market cap of $23,680 M.

Other Hedge Funds, Including , Valley National Advisers Inc boosted its stake in DFS in the latest quarter, The investment management firm added 78 additional shares and now holds a total of 572 shares of Discover Financial Services which is valued at $32,324. Discover Financial Services makes up approx 0.02% of Valley National Advisers Inc’s portfolio.First Citizens Bank Trust Co reduced its stake in DFS by selling 524 shares or 0.69% in the most recent quarter. The Hedge Fund company now holds 75,911 shares of DFS which is valued at $4,289,731. Discover Financial Services makes up approx 0.35% of First Citizens Bank Trust Co’s portfolio.Rathbone Brothers Plc boosted its stake in DFS in the latest quarter, The investment management firm added 3,067 additional shares and now holds a total of 99,014 shares of Discover Financial Services which is valued at $5,007,138. Discover Financial Services makes up approx 0.31% of Rathbone Brothers Plc’s portfolio.New England Research Management reduced its stake in DFS by selling 100 shares or 2.4% in the most recent quarter. The Hedge Fund company now holds 4,075 shares of DFS which is valued at $206,073. Discover Financial Services makes up approx 0.18% of New England Research Management’s portfolio.

On the company’s financial health, Discover Financial Services reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.29. The company had revenue of $2224.00 million for the quarter, compared to analysts expectations of $2173.41 million. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS.

Many Wall Street Analysts have commented on Discover Financial Services. Company shares were Reiterated by Stifel on Apr 20, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .Shares were Reiterated by Deutsche Bank on Feb 18, 2016 to “Hold” and Lowered the Price Target to $ 61 from a previous price target of $64 .Discover Financial Services was Downgraded by BofA/Merrill to ” Neutral” on Feb 11, 2016.

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company as well as a financial holding company. The Company provides direct banking products and services and payment services through its subsidiaries. The Company manages its business activities in two segments: Direct Banking and Payment Services. Direct Banking segment includes consumer banking and lending products specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services including private student loans personal loans home loans home equity loans prepaid cards and other consumer lending and deposit products. The Payment Services segment includes PULSE Diners Club and the Company’s network partners business which provides payment transaction processing and settlement services on the Discover Network.

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